The scanning process examines text for occurrences of names or other information identified in any of the industry based sanctions lists. Two issues are raised for any screening method. First, the risk of not identifying a blocked person or entity when it is present in the scanned text(false negative). Second, the cost of stopping a transaction when in fact there is not a blocked entity in the scanned text(false positive). The design of the SDN Scanner recognizes that the cost of false negative transactions is high and gives priority to eliminating such items.
Sanctions lists include a broad set of names and terms which are in common use. The SDN Scanner supports a Custom list that allows users to improve the accuracy of the scan by qualifying specific text as pre-approved(not in need of further review). The Custom list also allows users to include text which is not specified in the primary sanctions lists. An included entry is treated like any blocked entity and creates a reportable item when matched.
Sanctions lists selected by the user and the user's Custom list are combined into a scanning dictionary that's used to examine text.
Any combination of lists can be used. The combination can include lists that we publish and the two lists that we support but do not publish. These two lists, the Custom and FinCen lists, you must upload yourself.
The following table shows the lists that we publish.
|OFC||OFAC SDN||Sep 20, 2018||6,527||10,889||Sep 20, 2018|
|CN||Consolidated Screening||Sep 20, 2018||9,182||12,804||Sep 20, 2018|
|CS||Consolidated Sanctions||Aug 15, 2018||638||1,250||Aug 15, 2018|
|EU||European Union||Sep 14, 2018||2,128||5,985||Sep 17, 2018|
|HM||HM Treasury Asset Freezing Unit||Sep 19, 2018||2,138||3,544||Sep 19, 2018|
|DP||Denied Persons List||Apr 16, 2018||404||12||May 31, 2018|
|FT||Foreign Terrorist Organizations||Jul 11, 2018||66||51||Jul 13, 2018|
|UC||UN Consolidated||Sep 19, 2018||1,096||3,046||Sep 20, 2018|